Be Intentional . . .
A Generational Shift is Coming: Is the Real Estate Industry Ready?
The real estate and skilled trades sectors are the backbone of our economy, but a significant demographic shift is underway. A generation of experienced professionals is nearing retirement, and it is critical to the future of the industry to attract, train, and empower the next wave of talent: Generations Y and Z.
The statistics below paint a clear picture of the current landscape and the urgent need to focus on the future.
The Real Estate Industry by the Numbers: A Generational and Demographic Snapshot
The data reveals a workforce dominated by older professionals and a significant opportunity to build a more diverse and representative industry for the future.
The Age Gap in Real Estate and Skilled Trades:
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The average age of a real-estate agent in the U.S. is 56 years old. With a large portion of the workforce nearing retirement, a significant knowledge and experience gap is on the horizon.
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The median age of a construction worker is 42 years old. While younger than the real estate sales sector, the skilled trades are also facing a wave of retirements, with the number of workers aged 55 and older steadily increasing.
The Next Generation: Gen Y & Gen Z
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Generation Y (Millennials): Born between 1981 and 1996, currently ages 28 to 43
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Generation Z: Born between 1997 and 2012, currently ages 13 to 28
These two generations represent the future of the workforce, bringing digital fluency, innovation, and a strong desire for purpose-driven careers. Engaging Gen Y and Z is essential for shaping a more adaptive, inclusive, and future-ready real estate and skilled trades ecosystem.
These generations represent the future of our workforce and client base.
Demographics of the Current Industry:
While the future of the industry is in the hands of Gen Y and Z, the current ethnic makeup of the real estate and skilled trade sectors shows how we can increase participation and interest, to continue being global competitors by representing the U.S.
Statistics as of March 1, 2024
The Path Forward: Engaging Gen Y and Z
The future success of the real estate industry is dependent on its ability to attract and retain talent from Generations Y and Z. To bridge the coming experience gap and to build a workforce that mirrors the diversity of our communities, we must create pathways for young people to enter and thrive in this industry.
This is not just about filling jobs; it's about innovating, staying relevant, and ensuring the long-term health and growth of the real estate and skilled trades sectors. The time to invest in the next generation is now.
REAL ESTATE BROKERAGE OWNERS - OUT OF 165,000
White (70.0%),
Hispanic or Latino (13.2%)
Asian (6.9%)
Black or African American (3.3%)
Other (2.1%)
According to Zippia out of 165,500 real estate brokerages in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
MORTGAGE BROKERAGE OWNERS - 25,500
White (67.0%),
Hispanic or Latino (16.1%)
Asian (6.4%)
Black or African American (5.3%)
Other (5.2%)
According to Zippia out of 25,500 brokerages in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
GENERAL CONTRACTORS- OUT OF 35,620
White (73.5%),
Hispanic or Latino (19.0%)
Asian (1.9%)
Black or African American (3.3%)
Other (2.3%)
According to Zippia out of 35,620 general contractors in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
ENGINEERS - OUT OF 228,911
White (69.5%),
Hispanic or Latino (10.2%)
Asian (18.9%)
Black or African American (1.3%)
Other (.1%)
According to Zippia out of 228,911 engineers in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
ARCHITECTS - OUT OF 152,775
White (67.6%),
Hispanic or Latino (12.1%)
Asian (17.9%)
Black or African American (1.3%)
Other (1.1%)
According to Zippia out of 152,775 architects in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
REAL ESTATE DEVELOPERS - OUT OF 195,000
White (66.5%),
Hispanic or Latino (16.2%)
Asian (6.9%)
Black or African American (6.3%)
Other (4.1%)
According to Zippia out of 195,000 real estate developers in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
PROGRAMMERS - OUT OF 266,493
White (64.0%),
Hispanic or Latino (8.5%)
Asian (17.8%)
Black or African American (4.8%)
According to Zippia out of 266,493 programmers in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
GENERAL CONSTRUCTION SERVICES - OUT OF 767,992
White (53.9%),
Hispanic or Latino (27.9%)
Asian (2.2%)
Black or African American (11.1%)
Other (4.9%)
According to Zippia out of 767,992 general construction services in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
REAL ESTATE APPRAISER - OUT OF 34,752
White (81.1%)
Hispanic or Latino (10.8%)
Black or African American (3.7%)
Asian (2.9%)
American Indian and Alaska Native (1.5%)
According to Zippia out of 34,752 real estate appraisers in the U.S. it is estimates sector demographics and statistics in the United States as of March 1, 2024.
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